Does Your Credit Score Affect Your Car Insurance Rate? | Edmunds

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Does Your Credit Score Affect Your Car Insurance Rate? | Edmunds

Your credit score can indeed have a direct impact on how much you pay for car insurance. Here's why — and what you can do about it.

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Tech311

This should be criminal, if insurance is a REQUIREMENT BY LAW, insurance companies should have no right to adjust rates according to credit score.

InsurancesSuck100

The Credit Bureaus are PRIVATE-FOR-PROFIT COMPANIES THAT MAKE THE RULES UP AS THEY GO. THEY ARE UNREGULATED AND THERE IS VERY LITTLE DUE PROCESS OF LAW WHEN CONTROLLING THE DATA THEY COLLECT.

If Insurance Companies have to be regulated by Rules of Law so should the Credit Reporting Agencies. There is too much OVERREACH by the use of Credit Bureau Data Inaccurate Collection into peoples' lives.

Example;

A) Have no Credit = Pay more in Insurance Premiums;

Use your Available Credit = Pay More Insurance Premiums.

Use of your alleged "Credit Score is an INACCURATE analysis of a person's risk to have an Insurance Claim.

This use of a Credit Report should be prohibited by Federal Law as the whole Intent of Credit Reporting was to be use BY FINANCIAL INSTITUTIONS ONLY.

What's next? Use of your alleged Credit Score to measure a person's potential Healthy Lifestyle???

Dan1432

Great article! I contact the creditor who performed the inquiry and ask for their proof of authorization but got no useful response from them, they kept coming up with excuses and delay tactics, I was so frustrated and annoyed as I needed to get a home but I was always been denied due to inquiries on my report. I had to make research on my own and I came across this credit repair with decades of experience whom I got in touch with (email address removed) he promised he would helped me get my credit fixed asked me for a tips and necessary info. Long story short, all inquiries were removed, late payment was marked on time payment, all debt were been paid off and Auto car loan granted and my score increased to 800s (I wish I could show you my New report here but I can’t due to identity theft). I never doubted this great man cus I already read a lot of review and praises, thou I’m not asked to share this but I feel it’s high time we Know that Creditor or credit bureaus won’t get your credit fixed, you have to make a smart move to save yourself in time